CWT Dairy Export Sales Top 100 Million Pounds in 2019
With 45 million pounds of assisted dairy export sales in October, Cooperatives Working Together (CWT) assisted sales topped 100 million pounds in 2019. The milk equivalent of these sales is just shy of 900 million pounds on a milk-fat basis.
Forty-one sales contracts were approved in October. These contracts were for 29 customers in 11 countries in Asia, the Middle East, North Africa, Central America, Oceania and South America. The sales will be made between October 2019 and April 2020, with the CWT assistance paid only when delivery of the product is verified.
Through October, CWT sales include 45.4 million pounds of American-type cheese, 43.8 million pounds of whole milk powder, 5.9 million pounds of cream cheese, 4.6 million pounds of butter and just under 278,000 pounds of anhydrous milk fat.
The rate of CWT sales this year is slower than last year, when CWT assisted milk-equivalent sales reached 1 billion pounds by the end of August. U.S. dairy commodity prices have typically been higher than world prices this year, which means CWT incentives are needed even more to attract buyers.
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